Summary: TEHRAN (FNA)- The United States has for decades determined the world's international reserve
currency and foremost currency of trade.
The SDR -- a virtual currency whose value is currently based on the yen, euro, pound and dollar -- is an international reserve
asset that the IMF uses for emergency lending to its members.
Turning to consider future possible reserve currencies, hat would have to happen for the Chinese RMB to merge as an international reserve
Oil exporters in the Middle East and North Africa region are expected to increase their international reserve
positions by over $100 billion in 2010 as oil prices rebound, the IMF said.
There is no alternative to the dollar as an international reserve
currency at present, but it would be desirable if an alternative could be created, Libya's central bank governor said Thursday.
Aizenman, J., and Nancy Marion (2002) International Reserve
Holdings with Sovereign Risk and Costly Tax Collection.
Might the dollar eventually follow the precedent of the pound and cede its status as leading international reserve
"In our view, ad hoc bilateral loans and deposits are serving to support Egypt's international reserve
position at current low levels, buying Egypt a limited amount of time to deliver more sustainable public finances and avoid a balance of payments crisis.
DUBAI: Oil exporters in the Middle East and North Africa region are expected to increase their international reserve
positions by over 100 billion dollars in 2010 as oil prices rebound, the IMF said on Sunday.
Before China's recent announcement, twenty-five countries had already set up such funds to better manage their excess international reserve
holdings, while an additional six countries had announced plans to set up their own funds.
For example, until early 1995, Mexico announced its international reserve
position only three times a year or when otherwise convenient.